Gildan Activewear, Inc. $GIL Position Cut by Simcoe Capital Management LLC

Simcoe Capital Management LLC trimmed its stake in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 12.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,891,464 shares of the textile maker’s stock after selling 273,636 shares during the period. Gildan Activewear makes up about 15.8% of Simcoe Capital Management LLC’s portfolio, making the stock its biggest position. Simcoe Capital Management LLC owned about 1.27% of Gildan Activewear worth $109,327,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of GIL. Envestnet Asset Management Inc. lifted its position in Gildan Activewear by 9.2% in the third quarter. Envestnet Asset Management Inc. now owns 464,925 shares of the textile maker’s stock worth $26,873,000 after buying an additional 39,072 shares during the last quarter. JCIC Asset Management Inc. purchased a new position in Gildan Activewear during the third quarter worth $6,920,000. Northwest & Ethical Investments L.P. increased its position in Gildan Activewear by 11.8% during the second quarter. Northwest & Ethical Investments L.P. now owns 92,792 shares of the textile maker’s stock valued at $4,561,000 after acquiring an additional 9,774 shares during the last quarter. Intact Investment Management Inc. increased its position in Gildan Activewear by 1.7% during the third quarter. Intact Investment Management Inc. now owns 1,153,759 shares of the textile maker’s stock valued at $66,661,000 after acquiring an additional 19,196 shares during the last quarter. Finally, Oakcliff Capital Partners LP raised its stake in shares of Gildan Activewear by 11.4% in the second quarter. Oakcliff Capital Partners LP now owns 681,689 shares of the textile maker’s stock valued at $33,566,000 after acquiring an additional 70,000 shares during the period. Hedge funds and other institutional investors own 82.83% of the company’s stock.

Gildan Activewear Stock Down 1.0%

Shares of GIL opened at $58.69 on Friday. The firm has a fifty day moving average price of $66.74 and a 200-day moving average price of $61.31. The company has a current ratio of 2.11, a quick ratio of 1.05 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $10.87 billion, a P/E ratio of 22.40 and a beta of 1.05. Gildan Activewear, Inc. has a 12-month low of $37.16 and a 12-month high of $73.69.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings results on Thursday, February 26th. The textile maker reported $0.96 EPS for the quarter, missing the consensus estimate of $1.31 by ($0.35). Gildan Activewear had a return on equity of 27.32% and a net margin of 11.02%.The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the business earned $0.83 EPS. The company’s quarterly revenue was up 31.1% on a year-over-year basis. Gildan Activewear has set its FY 2026 guidance at 4.200-4.400 EPS. Equities research analysts expect that Gildan Activewear, Inc. will post 3.48 earnings per share for the current year.

Gildan Activewear Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 13th. Stockholders of record on Thursday, March 19th will be given a dividend of $0.249 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.7%. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, March 19th. Gildan Activewear’s dividend payout ratio is 34.35%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Zacks Research lowered shares of Gildan Activewear from a “hold” rating to a “strong sell” rating in a report on Monday, February 23rd. Scotiabank increased their price objective on shares of Gildan Activewear from $72.00 to $74.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 2nd. Weiss Ratings reissued a “buy (b)” rating on shares of Gildan Activewear in a research note on Monday, December 29th. BMO Capital Markets boosted their target price on Gildan Activewear from $70.00 to $78.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Finally, National Bank Financial upped their target price on Gildan Activewear from $92.00 to $97.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd. Thirteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Gildan Activewear presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.08.

About Gildan Activewear

Gildan Activewear Inc (NYSE:GIL) is a vertically integrated manufacturer and wholesaler of branded basic apparel, including activewear, socks, hosiery and underwear. Headquartered in Montreal, Quebec, the company produces a wide range of products such as T-shirts, fleece garments, sport shirts, performance wear, and shapewear under its Gildan, Anvil, Comfort Colors, Gold Toe, Peds and Silks brands. Leveraging its in-house knitting, dyeing, cut-and-sew and finishing operations, Gildan supplies blank apparel to screen printers, promotional product distributors and major retailers around the world.

Since its founding in 1984 by Glenn J.